Bank Earnings Are Soaring, but Congress Wants to Gut Post-Crisis Safeguards

Dick Bove, a high-profile banking analyst, was feeling contrite. For years, Bove, a regular on CNBC, has been arguing for the rollback of regulations imposed after the 2008 financial collapse.

“But lately I’ve been trying to figure how regulation has hurt the banking industry,” Bove confessed in an interview last spring. “And I’m having a lot of trouble coming up with an answer.”

This week, the Senate considers the Economic Growth, Regulatory Relief, and Consumer Protection Act,...

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